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Intel stock could gain up to 30%: here’s why

By: Invezz
intel stock price forecast april 2024

Intel Corp (NASDAQ: INTC) hasn’t been all that exciting over the past three months but analysts at Lynx Equity Strategies are convinced the story moving forward will be a different one.

What could help Intel stock?

Lynx Equity expects $INTC to climb as much as 30% in the coming months. The firm told its clients in a recent research note:

In an environment where investors are actively seeking out ideas in the AI space, even modestly positive catalysts could have an outsized impact on stock movement.

Analysts at Lynx Equity are constructive on Intel stock also because they expect the Nasdaq-listed firm to start shipping its Sierra Forest server processors in the second quarter of 2024.

Shares of the chipmaker are down over 10% versus their high in late December.

Intel has an event next week

Lynx Equity is bullish on $INTC also because it has an event scheduled for April 2nd that will likely have “a little bit of an oomph this time”.

The $187 billion giant based out of Santa Clara, California, the firm’s analysts believe, will announce its new reportable segments at the event and “to offer details of the CHIPs Act monies”.

All in all, the upcoming event may be a positive for Intel stock as it may result in “more clarity … and hopefully a bump to free cash flow outlook”, as per their research note last week.

In January, the multinational reported a strong Q4 but issued downbeat guidance for its current quarter.

The post Intel stock could gain up to 30%: here's why appeared first on Invezz

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